Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.032%

Price spread now: Paradex against gTrade (Gains Network)+0.052%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Paradex is 0.052% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) HYPE/USD	93.237	L +0.0002% / S −0.0002%	pay 0.0000% / 1h	7m 03s	$62K	—	150x
Short	Paradex HYPE-USD-PERP	93.285	0.0095	get 0.0095% / 8h	3h 07m	$339K	$162K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against gTrade (Gains Network). Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee gTrade (Gains Network)bpFee ParadexbpOrdersPrice spread, now +0.052%Rate

Funding earned: $19.5
Price spread: +0.052% → 0.000%: $5.25
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $10.75
Costs to cover: 0.140%
Break-even: 3.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Paradex: live order book, 47 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Paradex live order book, 47 min ago	1.18 bp	3.2 bp −$3	6.7 bp −$67	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.1840%	1h	93.067	−0.181%	$194K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0321%	1h	93.108	−0.138%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	93.227	−0.010%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.241	+0.005%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0049%	4h	93.218	−0.020%	$146K	$670K	20x	as long as short
Bullet HYPE-USD	−0.0007%	1h	93.186	−0.054%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.247	+0.011%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.250	+0.015%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USDlong	L +0.0002% / S −0.0002%	1h	93.237	long leg	$62K	—	150x
Ondo Perps HYPE-USD.P	+0.0003%	1h	93.050	−0.200%	$700K	$1.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0016%	1h	93.283	+0.050%	$87K	$365K	20x	as long as short
Phemex HYPEUSDT	+0.0022%	8h	93.195	−0.045%	$12.6M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.132	−0.112%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0030%	8h	93.250	+0.014%	$317.7M	$284.4M	75x	as long as short
Bitget HYPEUSDT	+0.0032%	4h	93.247	+0.011%	$225.5M	$98.8M	75x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	93.257	+0.022%	$76K	$1.1M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.063	−0.186%	$4.9M	$29.8M	30x	as long as short
Gate HYPE_USDT	+0.0086%	4h	93.258	+0.023%	$45.7M	$55.0M	75x	as long as short
Paradex HYPE-USD-PERPshort	+0.0095%	8h	93.285	+0.052%	$339K	$162K	20x
Lighter HYPE	+0.0096%	1h	93.251	+0.015%	$16.1M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.264	+0.029%	$3.1M	$11.7M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.230	−0.007%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.250	+0.015%	$6.9M	$46.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.301	+0.069%	$2.03B	$664.5M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.268	+0.034%	$8.7M	$36.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.279	+0.046%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.266	+0.032%	$374.3M	$909.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.279	+0.046%	$114.4M	$306.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.125	−0.120%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.250	+0.014%	$91.8M	$81.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.229	−0.008%	$46.2M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.256	+0.021%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.278	+0.045%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.028	−0.224%	$28.6M	$56.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.054	−0.196%	$7.5M	$46.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.080	−0.168%	$341K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.136	−0.108%	$666K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.279	+0.046%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.271	+0.037%	$489K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.243	+0.007%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.222	−0.015%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.288	+0.055%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.243	+0.007%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.379	+0.153%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.210	−0.028%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.245	+0.009%	$394K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0128%	8h	93.316	+0.085%	$1.8M	$5.5M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.260	+0.025%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0196%	1h	93.325	+0.095%	$20.8M	$29.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.410	+0.186%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	93.211	−0.027%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.231	−0.005%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.196	−0.043%	$16.8M	$11.9M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0458%	1h	93.324	+0.094%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.319	+0.088%	$3.2M	$6.2M	20x	as long as short